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Point Of Sale (Pos) Terminal Market Insights:
The Point Of Sale (Pos) Terminal market industry is projected to grow from USD 72.6432 billion in 2022 to USD 125.3068535 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 8.10% during the forecast period (2022 – 2030). Rising use of online mode for ordering and use of E-wallets are the key market drivers enhancing the Point Of Sale (Pos) Terminal market growth.
The concept of Point-of-Sale systems dates back to the 19th century when cash registers were first introduced. These early machines were mechanical and mainly designed for cash management. However, the digital revolution has transformed the way businesses operate, and the POS terminal market has adapted accordingly.
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Key Players:
are the notable vendors in the Point Of Sale (Pos) Terminal market.
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Point Of Sale (Pos) Terminal Market Regional Analysis:
By Region, the study provides market insights into North America, Europe, Asia-Pacific and Rest of the World. North America Point Of Sale (Pos) Terminal market accounted for USD 29.5008 billion in 2021 and is expected to exhibit a 43.90% CAGR growth during the study period. The region’s demand for products has been driven by a number of sophisticated payment technologies, including contactless payments and NFC. Additionally, the United States is home to a large number of well-known retail chains, like Wal-Mart, Costco Wholesale Corporation, Target, The Kroger Co., and The Home Depot, which depend on POS terminals to handle everyday operations like billing, payment, employee duty, and inventory. In order to stop the virus from spreading after COVID-19, the US government is also promoting the use of contactless payment methods. The pandemic-related slowdown in the retail and other service sectors, however, hindered the area market’s overall development. Thus both U.S. Point Of Sale (Pos) Terminal market and the Canada Point Of Sale (Pos) Terminal market are anticipated to grow.
Further, the major countries studied in the market report are: The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Point Of Sale (Pos) Terminal Market Segmentation:
The POS Terminal market is categorised as differentiated by component, product, deployment, and end-user.
By component, the POS terminal market comprised hardware, software, and services. Based on hardware, the market includes mobile devices such as tablets and smartphones synchronized with a debit/credit card reader, cash drawers, monitors, and others. On the basis of services, the segment is classified as professional services and managed services. By deployment, the market is bifurcated into on-premises and on-cloud. Furthermore, by product type, the POS terminal is classified as fixed terminal and wireless POS terminal. Based on end-user, the market is classified as retail, warehouse, healthcare, restaurants, hospitality, entertainment, and others.
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Point of Sale (POS) terminals have become an integral part of the retail and hospitality industries. These devices have undergone significant transformations over the years, evolving from traditional cash registers to sophisticated, technologically advanced systems that offer a wide range of features.
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